For a colicky baby, I would say the miracle blanket really is a miracle. My dd got out of the ordinary blanket swaddles. With the miracle blanket, they really can't get out of it until they starting getting too big for it. It's also made of lightweight stretchy material so the baby won't overheat. I found it helped tremendously with sleeping issues, as she would only sleep in the swing until we swaddled her. Be aware though, that it can become a prop. I have posted many, many swaddling threads because it was very hard and still is to wean dd off the swaddle. But up until at least 3 months and maybe more, it is fantastic. I also agree you should read the Happiest Baby on the Block. It emphasizes the 5 S's in this order:
1. Swaddling
2. Side (or Stomach) Means hold them in swaddle facing outward on their side, or you could try holding on your shoulder.
3. Shhhh (Needs to be very loud for baby to hear over crying) Not directly into the ear but past it.
4. Swinging
5. Sucking
Dr. Karp believes that these techniques, used all together, can calm the most colicky of babies. For babies that are not colicky, but just need soothing, you can pick and choose which of these works best. DD wasn't colicky, so we did swaddling all the time, along with the paci. The swing was a great help too.
But get his book because he explains each of the S's in detail and how to do them correctly.
Good luck.